Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes In determining its interim provision for income taxes, the Company used an estimated annual effective tax rate, which is based on expected income before taxes, statutory tax rates and tax planning opportunities available in the various jurisdictions in which the Company operates. Certain significant or unusual items are separately recognized in the period in which they occur and can be a source of variability in the effective tax rate from quarter to quarter. The Company recorded provision for income taxes of $7.5 million and $7.0 million in the three months ended June 30, 2026 and 2025, respectively. The effective tax rate was 25.6% and 25.9% for the three months ended June 30, 2026 and 2025, respectively. The Company recorded provision for income taxes of $19.5 million and $15.6 million in the six months ended June 30, 2026 and 2025, respectively. The effective tax rate was 29.6% and 27.5% for the six months ended June 30, 2026 and 2025, respectively. The difference between the effective tax rate and the 21% federal statutory rate in the six months ended June 30, 2026 was primarily due to nondeductible compensation of officers, tax deficiency resulting from stock-based compensation vestings and Base Erosion and Anti-Abuse Tax. The difference between the effective tax rate and the 21% federal statutory rate in the six months ended June 30, 2025 was primarily due to state taxes, Global Intangible Low-Taxed Income inclusion and nondeductible compensation of officers, partially offset by Foreign-Derived Intangible Income and other discrete items.
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